FX.co ★ Cyprus Inflation Rate Eases Slightly in May

Cyprus’s annual inflation rate slowed to 2.55% in May 2026, down from 2.83% in April. Price growth eased notably for food and non-alcoholic beverages (2.86% vs 4.76% in April), as well as for personal care, social protection, and miscellaneous goods and services (0.68% vs 0.89%). At the same time, deflation intensified in several categories, including clothing and footwear (-8.22% vs -5.29%), furnishings, home decoration, household equipment and routine home maintenance (-1.10% vs -0.26%), and information and communication (-4.21% vs -1.99%).

By contrast, prices accelerated for alcoholic beverages and tobacco (1.21% vs 0.81%), housing and utilities (4.22% vs 2.65%), transport (9.50% vs 8.17%), recreation, sports and culture (4.59% vs 4.15%), and restaurants and accommodation services (3.52% vs 3.27%). On a monthly basis, consumer prices declined by 0.06%, reversing a four-year high monthly increase of 1.71% recorded in April.